Former exchange Garantex, facing allegations of money laundering and sanction evasion, rebrands as Grinex.
Transformation of Garantex to Grinex
An X post from Global Ledger on March 19, 2025, announced the launch of a new platform Grinex by the founder of Garantex. Users’ funds have been transferred, and Grinex's interface appears similar to Garantex. The team indicates potential sanction evasion.
Money Laundering Allegations
Reports state $60 million backed by rubble were transferred to wallets linked with Grinex. Authorities in regions like the US, Finland, and Germany are investigating, with Garantex’s infrastructure being seized.
Cryptocurrency Market Trends
The cryptocurrency market cap stands at $2.81 trillion, up 3.09% in the past 24 hours. Bitcoin is trading at $85,971 with a 3.22% increase, despite below the 50 and 100 day moving averages. The fear and greed index is recovering, now at 31.
Money laundering issues threaten to hinder the growth of the crypto market. Enhanced regulatory measures are necessary to ensure security.
